Hi Francois,
I believe I answered you (or someone with a similar question) via email yesterday. Yes you can choose to monitor SD video in component or composite analog video when down converting from HD material in the HDV format to SD with DeckLink Macintosh 5.x drivers.
[Francois X] “is anybody capturing HDV directly in DVC HD Pro and treating it in this format ?”
You cannot capture HDV material via Firewire and have it automatically transcode in to the DVCPRO HD format. In fact, this would just lead to degradation of image quality. If you HDV device has HD-SDI output, you can capture this via any DeckLink HD series card and save in the DVCPRO HD format in real time. If your HDV device only has component analog output, you can use a Multibridge to convert this to HD-SDI which can then be captured via any DeckLink HD series card and save in the DVCPRO HD format in real time.
Regards,
Luke Maslen
Blackmagic Design